what does the effectiveness of minimum wage depend on?

4. A rise of the minimum wage is least likely to diminish welfare if:A. the minimum wage is close to the median wageB. unskilled labor is relatively abundantC. firms can easily alter the workforce compositionD. the demand for labor is inelastic, i.e. does not change much with the wage

why raise in a minimum wage of a workers is better than raise of the minimum wage to 15$

if the demand of software engeners-----------slower than does supply, then the wages of soft ware engenerr will----

DRAW THE MINIMUM WAGE CURVE AND EXPLAIN ALL DETAILS- DEFINITION, RESULTS,ETC.-

The graph illustrates a labor market in which there is a minimum wage of $11 an hour. Draw a point to indicate the number of hours employed and the wage rate. Draw the firms' surplus. Label it FS. Draw the workers' surplus. Label it WS. Draw the deadweight loss. Label it DWL. Draw the potential loss from job search. Label it Loss. >>> A label box can be dragged by its edge to a new position. A minimum wage creates an inefficient allocation of labor resources because at the quantity of employment O A. employment is minimized OB. unemployment is maximized O C. marginal social cost exceeds marginal social benefit O D. marginal social benefit exceeds marginal social cost 16 14- 12+ 10- 8- 6- 44 2- Wage rate (dollars per hour) S Minimum wage D Q Q 0+ 18.0 19.0 20.0 21.0 22.0 23.0 24.0 25.0 Quantity (millions of hours per year) >>> Draw only the objects specified in the question.

What is rent control?

Wage $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 T S Tools / $5.50 D 0 1 2 3 4 5 6 7 8 9 10 Labor $6.50 ■. The government introduces a minimum wage of $5.50. Draw a horizontal ne to identify the minimum wage on the graph.

What are the pros and cons of increasing the minimum wage

Using an appropriate illustration explain the impact of the minimum wage in the labour market